Oil Price.
21 November 2008, 12:11 AM
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Oil Price.
Surprised this hasn't been mentioned on SN yet, what with most of us driving world murdering cars.
$50 a barrel now.
What does that equate to for us tax paying idiots at UK pumps?
I know some of you work it out to nth degree as to what it should cost, so get those calculators out and tell us what it should be now.
And I know the oil price now is 3 months apart (apparently) from the pump price, but it's nice to see what we should be paying with oil on its slippery ****
$50 a barrel now.
What does that equate to for us tax paying idiots at UK pumps?
I know some of you work it out to nth degree as to what it should cost, so get those calculators out and tell us what it should be now.
And I know the oil price now is 3 months apart (apparently) from the pump price, but it's nice to see what we should be paying with oil on its slippery ****
21 November 2008, 12:18 AM
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ASDA was doing 89.9p but as a loss leader, according to the local free paper.
I know tax etc. is the mass of the cost, but surely it should come down a fair bit yet with crude @ about 40% of its price when compared with summer's prices?
I know tax etc. is the mass of the cost, but surely it should come down a fair bit yet with crude @ about 40% of its price when compared with summer's prices?
21 November 2008, 12:56 AM
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Some stats for you guys (although 100% sure no-one will believe me as stated this on here about 4 years ago and no-one listened!).
Fuel duty is 50.35p per litre and is FIXED no matter what the price of fuel at the pump is. The goverment takes 50.35p in fuel duty end of.
Pump price : 119.9p. 17.5% vat = 17.9p. Take off 50.35p, and you're left with 51.65p/litre for the fuel companies.
Pump price : 89.9p. 17.5% vat = 13.4p. Take off 50.35p, and you're left with 26.15p/litre for the fuel companies.
So............
In the summer, the oil companies were making 51.65p/litre.
Now, the oil companies are making 26.15p/litre.
That's a ~50% reduction, and with crude at 40% of the summer's prices, that's only a small amount of profiteering.
Don't compare the percentage difference of 119.9p over 89.9p. It's not quite the right sum.
Fuel duty is 50.35p per litre and is FIXED no matter what the price of fuel at the pump is. The goverment takes 50.35p in fuel duty end of.
Pump price : 119.9p. 17.5% vat = 17.9p. Take off 50.35p, and you're left with 51.65p/litre for the fuel companies.
Pump price : 89.9p. 17.5% vat = 13.4p. Take off 50.35p, and you're left with 26.15p/litre for the fuel companies.
So............
In the summer, the oil companies were making 51.65p/litre.
Now, the oil companies are making 26.15p/litre.
That's a ~50% reduction, and with crude at 40% of the summer's prices, that's only a small amount of profiteering.
Don't compare the percentage difference of 119.9p over 89.9p. It's not quite the right sum.
21 November 2008, 07:51 AM
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Me and the Mrs were discussing this when I took her to work earlier. She said she's heard petrol may be going down by upto 10p a litre to around 83.9p for N/U? Hope so, but can't see it personally.
(put V-power in the Pug anyways - but still under a quid
)
(put V-power in the Pug anyways - but still under a quid
)
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21 November 2008, 08:18 AM
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I pay 87.9 at Tesco, (with my 5p off a litre receipt) Spend at least £50 a week shopping so guaranteed this price, as I fill the car up about once a month now 
if that.....
Spend at least £50 a week shopping so guaranteed this price, as I fill the car up about once a month now if that.....
21 November 2008, 08:24 AM
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As the pound is losing value hand over fist against the US$ which oil is priced in then any drop in pump prices is going to be affected by that.
This fact seems to be lost on the average dumbo however.
This fact seems to be lost on the average dumbo however.
21 November 2008, 12:33 PM
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- 50.35 pence per litre for ultra-low sulphur unleaded petrol/diesel
- 53.65 pence per litre for conventional unleaded petrol
- 56.94 pence per litre for conventional diesel
- 30.35 pence per litre for bio-diesel and bio ethanol - low tax to encourage consumer conversion
- 16.49 pence per kg for gas other than natural gas (LPG)
- 13.70 pence per kg for natural gas used as road fuel.
- 9.69 pence per litre for rebated gas oil (red diesel)
- 9.29 pence per litre for rebated fuel oil
21 November 2008, 12:55 PM
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100% agree with this
21 November 2008, 01:04 PM
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She said she's heard petrol may be going down by upto 10p a litre to around 83.9p for N/U? Hope so, but can't see it personally.
Oil price is unsustainably low at the moment
21 November 2008, 01:05 PM
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In your opinion!
21 November 2008, 01:06 PM
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21 November 2008, 01:23 PM
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When it was last $70 (years ago) we were paying circa 80p a litre ... we're clearly being screwed by someone 
TX.
TX.
Last edited by Terminator X; 21 November 2008 at 01:26 PM.
21 November 2008, 01:26 PM
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21 November 2008, 01:29 PM
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